Swiss Re gives rare honour to departing board chair

The retiring chairman is only the third in the firm’s 150-year history to get the title

Swiss Re gives rare honour to departing board chair

Insurance News

By Ryan Smith

Swiss Re shareholders elected a new board chairman at the company’s annual general meeting in Zurich last week. Sergio Ermotti was named chairman of the board, succeeding Walter B. Kielholz, who is retiring after 12 years in the position. The board also awarded the title of honourary chairman to Kielholz to recognise his service to the company. It was only the third time the title has been awarded in Swiss Re’s more than 150-year history.

“Since I first joined Swiss Re in 1989, our world, our society and our company have faced challenges and undergone changes. On each such occasion, we had to adapt – constantly assessing and developing our business while always fulfilling our role as shock absorber,” Kielholz said. “There will be new challenges, and the pace of change is only likely to accelerate. However, I am confident that Swiss Re is well-positioned for the future. Thanks to our committed employees and culture of collaboration and innovation, Swiss Re can not only overcome any obstacles, but will continue to lead by example, shaping a resilient and sustainable society for future generations.”

“On behalf of our shareholders, the members of the board and our employees, I would like to extend my sincere gratitude to Walter Kielholz for his services and accomplishments as chairman of Swiss Re’s board of directors over the past 12 years,” said Renato Fassbind, vice chairman at Swiss Re. “He has been an integral part of our company for decades and has played a pivotal role in shaping the development of not only Swiss Re but the entire Swiss financial centre. I wish him all the best for his well-deserved retirement and would like to congratulate him on his appointment as honourary chairman of Swiss Re. Likewise, I would like to congratulate Sergio Ermotti on his election as new chairman and look forward to continuing our successful collaboration.”

“I am honoured to be succeeding Walter Kielholz in the role as chairman of the board and want to thank shareholders for the trust they have placed in me,” Ermotti said. “I look forward to continuing working closely with the board and the management team to further evolve our company, leveraging our proven risk expertise and partnerships to innovate and improve the societal resilience in this ever-changing and fast-evolving landscape.”

Shareholders also approved all other proposals put forward by the board of directors at the meeting. The proposals included the distribution of an ordinary dividend of CHF 5.90 per share and the re-election of all proposed board members.

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